Published by MBA Skool Team, Last Updated: January 01, 2018
Marketing Strategy of Mitsui analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Mitsui marketing mix, help the brand succeed.
Mitsui marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Mitsui Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Mitsui Product Strategy:
The product strategy and mix in Mitsui marketing strategy can be explained as follows:
Mitsui is one of the leading companies of Japan having presence in iron & steel, real estate, energy, agriculture, healthcare, food etc. The products and services offered by in its marketing mix are:
• Iron & Steel Products
• Mineral & Metal Resources
• Infrastructure Projects
• Integrated Transportation Systems
• Basic Materials
• Performance Materials
• Nutrition & Agriculture
• Food & Retail Management
• Healthcare & Service
• IT & Communication
• Corporate Development
Image: company website
Mitsui Price/Pricing Strategy:
Below is the pricing strategy in Mitsui marketing strategy:
Mitsui follows dynamic and segmented pricing strategy where it will focus on segment differentiation.
They will have different prices for their goods and services for different segments identified by them. Mitsui boast of competitive pricing with the best quality products and services delivered. Its top competitors are Itochu Corporation, Mitsubishi Corporation, Sumitomo Corporation. In order to be at par with its competitors, it has valued its services at comparative prices to its competitors. Mitsui provide their customers with quality at best prices.
Mitsui Place & Distribution Strategy:
Following is the distribution strategy in the Mitsui marketing mix:
Mitsui is present in 66 countries and has 141 offices worldwide. It follows a direct distribution strategy. They believe in the precision of service and safety of products delivered. They also focus on a risk management system which would act as a mitigation plan in case of any mishaps. Mitsui’s distribution centers are highly equipped and have very developed technologies used for storage. They provide high-quality logistics service. Their distribution strategy involves precise, and quick delivery of services and products.
Different kinds of products have different distribution strategies and have been uniquely identified for the particular industry.
Mitsui Promotion & Advertising Strategy:
The promotional and advertising strategy in the Mitsui marketing strategy is as follows:
Mitsui really get to the crux of what people want. They contact their potential customers through contact centers and get to know the exact requirements. This information is then passed on to the clients. Mitsui look for three type of customers: Advocates- who have used our products and like them and advocate or suggest them to other potential customers, Repeaters-who have liked the products and purchased several times, and Trials – potential customers who have requested for samples. To promote their business, Mitsui has started their expansion in Shopimo business where shoppers are provided with tablet mounted shopping carts. It would make their shopping hassle free and they would even get to know about any promotional offers at the store.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Mitsui.
Mitsui has over 460subsidaries and trades in a wide range of products and services. It has various projects running around the world. Some of them are: Wastewater treatment service project in Mexico; Sakhalin II LNG project in Russia; Photovoltaic Power Project in Catalonia, Spain; Acquisition of Taiwan TV Shopping Company; Brazil Biofuel Project with Petrobras; Bald Hills Wind Farm Project in Victoria, Australia; Umm Al Nar Power and Water project in Abu Dhabi. Mitsui also has some outlets throughout Japan.
They place more emphasis on the people in their organization. It has over 6000 employees. Mitsui believes in hiring people with a strong will, imaginative and innovative skills, and vital spirit. They expect their people to create value for the company. Their people are their assets Mitsui being a huge corporation.
Since there are various kinds of industries under Mitsui every industry follows different kinds of processes. All the process undertaken in Mitsui has to pass through the main Office in Tokyo, Japan. Since it trades in many kinds of products and services, it has to focus on plant and logistics development, and resource exploration. This concludes the Mitsui marketing mix.
Mitsui is one of the largest general trading companies in Japan. It was founded in 1876 by Takashi Masuda. It has its headquarters in Tokyo, Japan. Its Chairman is Masami Iijima and President and CEO is Tatsuo Yasunaga. Mitsui is a public company and a stock corporation or joint-stock company. Formerly, the trading was dominated by foreign nationals. By setting up this company Takashi aimed to replace the foreign nationals by Japanese in the trading arena. Although it had become a huge name it was dissolved later.
Mitsui was re-launched in 1947. The business includes machinery, chemicals, pharmaceutical, energy, logistics, food, textiles, finances, etc.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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